Suspension products manufacturer Fox Factory Holding sets terms for $120 million IPO
Fox Factory Holding, which manufactures high-performance suspension products, announced terms for its IPO on Monday. The Scotts Valley, CA-based company plans to raise $120 million by offering 8.6 million shares (67% insider) at a price range of $13 to $15. At the midpoint of the proposed range, Fox Factory Holding would command a fully diluted market value of $531 million. Fox Factory Holding, which was founded in 1975 and booked $245 million in sales for the 12 months ended March 31, 2013, plans to list on the NASDAQ under the symbol FOXF. Fox Factory Holding initially filed confidentially on May 13, 2013. Baird, William Blair and Piper Jaffray are the joint bookrunners on the deal.